Business 2 years ago

CoinGeek

A reminder from a China miner

As The Establishment try and blame Bitcoin for cyber-crime (the Ransomware story has somehow become more about Bitcoin than the crime itself), clever stuff boys (and we do mean boys), we have been distracted from the issue of The Fork (again).

The key issue that concerns us here at CoinGeek HQ is how talk of The Fork is not looking hard enough, perhaps deliberately, at the miners themselves. Especially, those in China as they are far less vocal than the Core thumping minnows in the ‘West.’ But all this helped jog our memory about a great piece posted on Medium and translated from miner Jiang Zhuo’er late last year by Zhang San (for the uber-sceptic the Chinese original is here).

The translation in full is a great piece of writing from the most credible of sources and, most interestingly, is anti-Core but more because of the authoritarian nature they try to enforce. To quote: “The pro-scaling camp also supports [elements of] Segwit and Lightning Network, they merely oppose Bitcoin Core’s roadmap. Bitcoin Core plans to implement Segwit as a soft fork, and then to forever limit the block size to a piddling 1MB. Bitcoin Core envisions the Bitcoin blockchain becoming a high-cost ledger used only for high-value money transfers, while all consumer users will be forced onto the Lightning Network.”

Unlike many articles on the subject this is very readable and makes some strong points which are backed up with fact, not least: “Chinese mining pools have all said they want an 8MB block size.”

Yes, he said ‘all’ and, yes, the supporting documentation is there.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

COMMENT

Add a Comment

lastest news

British MP wants Bitcoin tax payments

Business 1 hour ago

British MP wants Bitcoin tax payments

Citizens might soon be paying for their local taxes and utility bills using Bitcoin and other cryptocurrencies. A member of the British Parliament, Eddie Hughes, a conservative MP for the Walsall North constituency, wants residents ...

Read More
UNICEF to assist blockchain firms with $100M investment

Business 3 hours ago

UNICEF to assist blockchain firms with $100M investment

The United Nations International Children’s Emergency Fund (UNICEF) has pledged up to $100 million to six companies involved with blockchain technology, for delivery of various services in developing areas. The companies, who will be delivering ...

Read More
South Korea: Blockchain startup threatens to appeal ICO ban

Business 9 hours ago

South Korea: Blockchain startup threatens to appeal ICO ban

The cryptocurrency community in South Korea is not happy with the country's decision to ban initial coin offerings. According to local news, Presto, a blockchain start-up in the country, has reportedly claimed that it will ...

Read More